Shoe Carnival, Inc. (SCVL)

Industry: Apparel - Retail Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
0L9Q.L	39	Fiskars Oyj Abp	1,342	67.41	81.62	14.29	14.84	77.31	51.49
4240.SR	40	Fawaz Abdulaziz Al	1,303	-	-	5.44	5.26	13.72	12.97
SFIX	41	Stitch Fix, Inc.	1,290	-	-	-	-	-	-
PLCE	42	The Children's Pla	1,288	-	-	25.28	25.28	22.13	-
BKE	43	The Buckle, Inc.	1,278	13.35	11.80	9.95	8.94	11.53	9.73
8214.T	44	AOKI Holdings Inc.	1,245	17.25	17.25	6.66	6.66	25.02	10.27
ALDAR.PA	45	Damartex	1,230	-	-	-	-	-	-
SCVL	46	Shoe Carnival, Inc	1,144	8.66	6.32	7.55	6.01	10.33	8.21
FNG.AS	47	FNG N.V.	1,138	14.53	14.53	6.09	6.09	6.84	10.18
LINDEX.HE	48	Lindex Group Oyj	1,105	32.47	32.47	6.40	6.17	16.28	8.87
PMV.AX	49	Premier Investment	1,089	28.73	22.12	22.28	17.83	34.52	28.53
0KIZ.L	50	New Wave Group AB	1,043	17.75	14.75	11.68	10.18	14.00	11.93
CURV	51	Torrid Holdings In	1,039	-	-	2.55	2.63	320.49	9.96
0709.HK	52	Giordano Internati	997	4.73	5.38	2.66	2.94	3.23	3.33
7606.T	53	United Arrows Ltd.	987	14.84	14.84	6.49	3.59	5.94	4.65
SOMA3.SA	54	Grupo de Moda SOMA	974	-	-	-	-	47.80	-

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	14.84	14.75	6.44	6.13	14.00	9.96
Full Range Median Multiple	17.25	14.84	6.57	6.41	16.28	10.18
Industry Multiple	23.45	23.86	9.98	9.20	46.06	14.72
Market Implied Multiple	8.97	6.55	7.73	6.15	10.57	8.40
Company (SCVL) Multiple	8.66	6.32	7.55	6.01	10.33	8.21
(*) Net Income / EBITDA / Revenue	58	79	102	128	74	94
Winsorized Enterprise Value	N/A	N/A	657	785	1,043	934
Full Range Median Enterprise Value	N/A	N/A	670	821	1,213	954
(-) Net Debt	268	268	268	268	268	268
Winsorized Equity Value	859	1,169	388	516	774	665
Full Range Median Equity Value	998	1,176	401	552	944	685
(/) Shares Outstanding	27	27	27	27	27	27
Winsorized Fair Value	$31.41	$42.75	$14.20	$18.88	$28.32	$24.33
Full Range Median Fair Value	$36.51	$43.00	$14.68	$20.20	$34.53	$25.06
Current Price	$18.98	$18.98	$18.98	$18.98	$18.98	$18.98
Upside / Downside	65.47%	125.24%	-25.20%	-0.50%	49.18%	28.20%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$21.98	$29.93	$9.94	$13.22	$19.82	$17.03
Buy / Don't Buy	BUY	BUY	Don’t Buy	Don’t Buy	BUY	Don’t Buy